Two former Parramatta Eels players are accused of harbouring semi-automatic weapons and possessing more than half-a-million dollars in cash after dramatic arrests in Sydney's Centennial Park yesterday.

Shocking vision has been released of two teenagers who embarked on an alleged joyride in a ute through Queensland’s southeast.

Police have charged the driver, aged just 15, and his 18-year-old passenger after they were spotted driving “at high speeds” in an allegedly stolen purple Holden ute.

The pair were arrested in Logan, south of Brisbane, about 12:30pm yesterday.

The vehicle, which had allegedly been stolen from a Park Ridge property on Monday, had failed to stop for police at an earlier traffic stop in nearby Calamvale.

Polair vision shows the ute being tracked as it drove through Logan, allegedly driving through several red lights and ploughing into roadworks at speeds of up to 150 kilometres per hour, police said.

Police continued to monitor the wild rampage before it came to an end when the driver lost control at a roadworks zone in the suburb of Stretton, crashing through fencing and into heavy machinery.

The alleged driver, who cannot be identified, was today charged with dangerous operation of a motor vehicle and unlawful use of a motor vehicle without a driver’s license as well as burglary, stealing and possession of dangerous drugs.